Stocks to watch: The domestic stocks are expected to open flat on Wednesday, October 9. At 7:53 AM, the GIFT NIFTY futures were trading 10 points, or 0.04%, lower at 25,142.50 levels.
Market participants will keenly eye the outcome of the monetary policy meeting of the RBI, which is slated to be announced later today.
Chinese shares fell on Wednesday, and commodities nursed sharp losses as investors tempered enthusiasm for a Chinese economic recovery, while broader markets steadied on expectations that the US economy can avoid recession and support global demand.
On Wall Street, US stocks closed sharply higher as the benchmark S&P 500 bounced back from a drop of nearly 1% a day earlier, with a jump of more than 2% in technology stocks providing key support.
Here is a list of stocks that may remain in focus today.
Rate-sensitive stocks: Auto, banks, NBFCs, and real estate stocks are expected to remain in focus today as the RBI is slated to release its monetary policy outcome today. The central bank is expected to keep the repo rate unchanged but may change the stance.
IRB Infra: The
IRB Infrastructure Developers and IRB Infrastructure Trust have reported collective YoY toll revenue growth of 19% in September, i.e., ₹502 crore as against ₹421 crore in September 2023.
Infosys:
Infosys and Old National Bank, the sixth largest commercial bank headquartered in the Midwest, recently entered into a strategic expansion of their four-year collaboration. "This deepening of a highly successful relationship enables Old National to leverage Infosys services, solutions, and platforms for operations transformation and process digitization powered by automation and GenAI, and transformation of key business areas," the company said in its regulatory filing.
Gensol Engineering: As per news reports, the company's solar EPC order book crossed ₹4,097 crore, representing 1.5 gigawatts as of September 30, 2024.
Torrent Power:
Torrent Power on Tuesday said it has secured a contract from the Maharashtra government to supply 2,000 megawatt energy storage capacity from its upcoming plant in the state.
Shyam Metalics and Energy: Sharing its Q2 business update, the company announced that its stainless steel production surged 90% YoY to 8,175 MT in September 2024 as compared with 4,304 MT produced in September 2023.
The average realisation of stainless steel increased 18% YoY to Rs 1,26,795/MT in September 2024. The production of aluminium foil jumped 79% YoY to 1,975 MT, with the average realisations increasing by 10% YoY to ₹3,52,005/MT in September 2024.
IRFC: IRFC on Tuesday said it will finance up to ₹700 crore under a finance lease for 20 BOBR (Bogie Open Bottom Rapid) rakes procured under the General-Purpose Wagon Investment Scheme of the Ministry of Railways (GPWIS) to NTPC. Ajoy Choudhury as Chief Risk Officer (CRO) on a fixed tenure basis for two years from the date of assumption of charge.
Sheela Foam: The company said it will acquire a 10.5% stake in House of Kieraya (operating as Furlenco), a furniture rental company, for ₹107 crore.
Dr Reddy's: Aurigene Oncology Limited, a wholly-owned subsidiary of Dr. Reddy’s Laboratories, announced promising results of the Phase 1 study for India’s first trial for novel autologous CAR-T cell therapy for multiple myeloma.
Aurigene Oncology Limited is a clinical-stage biotech committed to bringing in novel and effective therapeutics for the treatment of cancer.
Senco Gold: In its Q2 business update, the company said its retail growth in jewellery business was robust at 27% in Q2 YoY and 19% in H1 YoY. Same Store Sales Growth (SSG) substantially improved to 20% in Q2 as against 4% in Q1, yielding 12% SSG growth in H1, it said.
Bharti Airtel: In a clarification to media reports that said Bharti Airtel is in advanced negotiations with the Tata Group to acquire Tata Play, India's largest direct-to-home (DTH) business, the telecom major said the company evaluates various opportunities of alliances/acquisitions and other similar avenues as per its requirements from time to time in the ordinary course of business. There is no material event/ information that requires disclosure.
SKF India: As per news reports, the company has approved the demerger of its automotive and industrial businesses through a scheme of agreement.
Welspun Enterprises: The company, as per news reports, has received a letter of acceptance from Brihanmumbai Municipal Corp. for a waterway tunnel worth ₹1,989 crore.
With inputs from Reuters
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